Preserving Liability Protections of the Business Entity 

The “corporate shield” provides the liability protection desired by individual shareholders, members, and limited partners. It serves to shield individual shareholders, members, or limited partners, and their personal assets, from individual liability for corporate acts. The protection of the “corporate shield” operates only if the corporation remains properly organized, adequately capitalized, and completely distinct as a legal entity. Should a business entity fail to comply with statutory formalities, the validity of the entity may be open to question and an outside party might be able to “pierce the corporate veil” and impose liability upon the individual shareholders, members, or limited partners.

MLF Company Support focuses on what is often the main objective of every business owner when considering the formation of a company: the protection of his or her personal assets from business-related liability. MLF Company Support helps to ensure that a legal entity is properly created and maintained by an experienced legal professional, increasing the likelihood that the entity will shield an individual’s assets from such liability and from potential economic downturns related to the underlying business. A properly structured and maintained legal entity can also aid in the raising of capital, provide freedom to transfer equity, and allow a business to continue despite the departure of vital personnel or owners.

MLF Company Support realizes that the key to protecting personal assets lies in creating and maintaining the proper legal entity for business owners. Once the appropriate legal business entity has been selected, proper filing with the Secretary of State or similar administrative body creates the legal entity and brings to life a “fictitious person.” This fictitious person has the ability to engage in business, own property, and be legally obligated. MLF Company Support”s mission is to help each client increase the probability that the client”s business entity is properly formed and maintained so that this “fictitious person” can provide a liability shield for the client”s assets.